Building a small army to take over the world and... leave everybody alone.

Tuesday, January 31, 2012

What is money? (Part II)

Last week, we explored the three functions that money serves and learned that money has enabled so many of the modern world’s advances in material prosperity and standards of living by acting as a: 1) Medium of exchange, 2) Unit of account, and 3) Store of value. If you haven’t already read it, please read What is money? (Part I) to familiarize yourself with these roles that money plays and why they are so essential to the material success we all enjoy today.

If you’ve read Part I, you’re ready for Part II below, where we’ll explore what characteristics money has to have in order to fulfill these roles…